LLC in Wyoming How To Info

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Wells Fargo completes Wachovia purchase (Reuters)

Pedestrians walk outside Wachovia corporate headquarters in Charlotte, North Carolina, October 22, 2008. (Chris Keane/Reuters)Reuters - Wells Fargo & Co said it has completed its roughly $12.7 billion purchase of Wachovia Corp, a big bet that it properly assessed the risks in Wachovia's huge book of mortgage and real estate loans.


Lawmakers set new mortgage bankruptcy bill (Reuters)
Reuters - Legislation designed to stem foreclosures by allowing bankruptcy judges to erase some mortgage debt will be introduced by Congressional Democrats on Tuesday, and hopes are high that it will pass after a similar plan failed last year.

Standout 2008 fund managers staying defensive (AP)

Graphic shows the best- and worst-performing mutual funds of the year; 3 c x 4 5/8 in; 146 mm x 117.475 mmAP - Playing it safe paid off in 2008 for Tom Forester and David Ellison, two standout mutual fund managers in a year when winning meant losing less money than the competition.


Fed aims to buy $500 billion in MBS by mid-year (Reuters)

Federal Reserve Bank Chairman Ben Bernanke at the Federal Reserve in Washington, December 4, 2008. (Jonathan Ernst/Reuters)Reuters - The U.S. Federal Reserve on Tuesday moved forward aggressively with an effort to drive down mortgage costs, setting a goal of buying $500 billion in mortgage-backed securities by mid-2009.


FDIC says it will sell IndyMac (Reuters)

An IndyMac Bank branch is seen in Glendale, California July 17, 2008. (Phil McCarten/Reuters)Reuters - The Federal Deposit Insurance Corp, in a statement on its Website, says it signed a letter of intent to sell Indymac Federal bank operations to thrift holding company controlled by IMB Management Holdings LP.


Mortgage applications remain at 5-year highs (AP)

For sale boards are seen on properties in central London, Jan. 2, 2009. House prices in Britain fell in 2008 at their fastest rate for at least 25 years, the country's biggest mortgage lender said Friday, further stoking market expectations that the Bank of England will cut borrowing costs further next week. (AP Photo/Tom Hevezi)AP - Mortgage applications remained at their highest level in more than five years last week, as borrowers took advantage of attractive rates and rushed to refinance their home loans.


Private equity group buying IndyMac assets (Reuters)

A logo on the IndyMac Bank corporate headquarters building is seen in Pasadena, California July 8, 2008. (Danny Moloshok/Reuters)Reuters - The assets of failed U.S. mortgage lender IndyMac are being bought by a group of private equity and hedge fund firms, including Dune Capital Management and J.C. Flowers & Co, which are putting up $1.3 billion in cash.


Fed to start buying mortgage-backed securities (AP)
AP - The Federal Reserve said Tuesday that it will begin purchasing up to $500 billion in mortgage-backed securities early next month in an effort to bolster the long-suffering housing market.

Plan B for retirees who counted on home equity (AP)
AP - The safety net is almost gone, the nest egg is cracking.

Mortgage crisis spurs tougher rules for brokers (AP)

Shirley Webster, president of the Greater Citizens Coalition of Martindale-Brightwood, tours the Brightwood neighborhood on the near north side of Indianapolis, Tuesday, Dec. 16, 2008.  The area has a problem with vacant homes, many of the homes have been stripped of their pipes and the home pose a danger to the students in a nearby elementary school.  (AP Photo/Michael Conroy)AP - Becoming a mortgage broker in Indiana used to be easy. Too easy.


NY Fed begins purchasing mortgage securities (AP)
AP - The Federal Reserve Bank of New York said Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.

Mortgage rates drop to 37-year low (Reuters)
Reuters - Interest rates on U.S. 30-year fixed-rate mortgages dropped for a ninth consecutive week, reaching their lowest level in 37 years, according to a survey released on Wednesday by home funding company Freddie Mac.

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